FTSE 100 fluctuates, oil shares gain
On Thursday, British shares wavered, keeping close to a one-month peak, though energy stocks move up as Brent oil climbed higher than $50 per barrel.
The FTSE 100 stood flat at 6,263.03 and it was wavering between small profits and losses. By the way, on Wednesday, the blue-chip benchmark surged 0.7% and ended up at its highest value since April 28, as FactSet data states. Thursday’s win appears to be the benchmark’s third in a row.
The FTSE is consolidating revenues after having reached a four-week high yesterday. Then, the 200-day moving average 6,145 is supposed to lend a base to pullbacks for a probable expansion toward the 6,300 on recovery in energy prices.
So far this week, the FTSE 100 has managed to grasp 1.8%, that would be its greatest weekly surge since mid-April.
Stocks of oil heavyweight Royal Dutch Shell PLC acquired up to 1.3%, BP PLC edged up 0.6%, going up along with oil.
Banking stocks pulled back. For instance, Standard Chartered PLC lose 2.1%, Royal Bank of Scotland PLC sagged 0.9%.